.webp)
CBSE Class 12 Economics Important Questions for Board Exam 2024: CBSE Class 12 Economics Board Exam 2024 is scheduled for Monday, March 18, 2024 and we are just a few days away from the final test. At this time, students might be in search of important resources to boost their preparation and make them feel more confident about the exam. To assist you all in the process, we have brought to you Economics important questions for Class 12 CBSE board exam 2024. Here, we have tried to dissect the entire CBSE Class 12 Economics model paper 2024 into various segments according to the marks distribution done on the paper. On the basis of marking segmentation, we have brought to you marks-wise important questions where you will find Important MCQs for Class 12 Economics, 3 Marks Important Questions, 4 Marks Important Questions, and 6 Marks Important Questions. Check the article below for a better understanding.
Important Questions for CBSE Class 12 Economics Board Exam 2024
Find the marks-wise important questions for CBSE Class 12 Economics board exam 2024 below.
Important MCQs for Class 12 Economics Board Exam 2024
1. For a closed economy (with no foreign trade), which one of the following is correct?
a) GDP = GNP
b) GDP > GNP
c) GDP < GNP
d) GDP + GNP=0
Answer. a) GDP = GNP
2. “The value of all goods and services can be expressed in monetary units.” On the basis of the given statement, identify the function performed by money:
a) Medium of exchange
b) Store of Value
c) Unit of account
d) Means of standard of deferred payments
Answer. c) Unit of account
3. Identify the correct reason(s) that may affect the demand for foreign exchange in an economy.
Imports of visible
Exports of Invisibles
Remittances by residents working abroad
Purchase of assets abroad
Alternatives:
a) I and II
b) II and III
c) III and IV
d) I and IV
Answer. d) I and IV
4. Graphically, Aggregate Demand function can be obtained by vertically adding the _________ and _________ function.(Choose the correct alternative to fill up the blanks)
a) consumption, saving
b) consumption, investment
c) investment, saving
d) aggregate supply, consumption
Answer. b) consumption, investment
5. Owing to the Russia-Ukraine crisis, the world is experiencing rising crude prices due to supply-side issues.’ Identify the most likely impact on the Balance of Payment situation of the Indian economy from the following:
a) Production of cars in India will rise.
b) Production and sale of cycles in India will rise.
c) Inflow of US Dollars in India will rise.
d) Outflow of US Dollars from India will rise.
Answer. d) Outflow of US Dollars from India will rise
6. Read the following statements carefully:
Statement 1: Export of financial services by India will be recorded on credit side of current account.
Statement 2: Foreign Direct Investments in India will be recorded on credit side of capital account. In the light of the given statements, choose the correct alternative:
a) Statement 1 is true and statement 2 is false
b) Statement 1 is false and statement 2 is true
c) Both statements 1 and 2 are true
d) Both statements 1 and 2 are false
Answer. c) Both statements 1 and 2 are true
7. If increase in National Income is equal to increase in consumption, identity the value of Marginal Propensity to Save :
a) Equal to unity
b) Greater than one
c) Less than one
d) Equal to zero
Answer. d) Equal to zero
For more Class 12 Economics Important Questions, click on the link below
Important 3 Mark Questions for Class 12 Economics Board Exam 2024
1. State the meanings of the following:
(i) Externalities
(ii) Operating Surplus
(iii) Consumption Goods
2. ‘Current account deficit in an economy must be financed by a corresponding capital account surplus’.Do you agree with the given statement? Give valid reason(s) in support of your answer.
3. Suppose in a hypothetical economy there are only two Firms A and B, Firm A sold goods for ₹ 2,000 to Firm B and purchased goods for ₹ 1,000. Firm B exported goods for ₹ 2,500 and had domestic sales of ₹ 1,500. Calculate Net Domestic Product at market price, if consumption of fixed capital is ₹ 200.
4. Explain, how exchange rate is determined under a free market exchange rate system
5. Distinguish between autonomous and accommodating transactions in Balance of Payments Accounts.
6. Explain the concept of Double Counting in the context of calculating National Income and provide a practical way to avoid it.
7. Elucidate the distinction between Autonomous Items and Accommodating Items concerning a nation's Balance of Payments. Give examples to demonstrate country's international economic interactions.
8. a) When does a Current Account Surplus situation arise?
b) Discuss its significance in an economy.
9. Venture capital refers to the funding provided by investors to small or start-up businesses with strong potential for growth. In light of the above statement, how does the process of devaluation of a currency affect Foreign Direct Investment or Portfolio investment?
For more 3 Marks Important Questions, check the link below
| CBSE Class 12 Economics 3 Mark Important Questions for Board Exam 2024 |
Important 4 Mark Questions for Class 12 Economics Board Exam 2024
- For a hypothetical economy, the government incurs an investment expenditure of ₹ 1,000 crore. If the value of Marginal Propensity to Save (MPS) falls from 0.25 to 0.10. Calculate the value of increase in income due to change in the value of Marginal Propensity to Save (MPS).
- "In an economy, ex-ante Aggregate Demand is more than ex-ante Aggregate Supply." Elaborate the possible impact of the same, on the level of output, income and employment.
- “With an objective to reduce inflation, Reserve Bank of India may promote the commercial banks to park their surplus funds with it.” Discuss the rationale behind the step taken by the Reserve Bank of India.
- Elaborate the ‘Banker’s Bank and Supervisor’ function performed by the Reserve Bank of India.
- If National Income is 250 crore and Savings is 80 crore, find out Average Propensity to Consume. When National Income rises to 390 crore and Savings to 115 crore, what will be the Average Propensity to Consume and the Marginal Propensity to Save?
- Describe the economic scenario when ex-post Aggregate Demand surpasses ex-post Aggregate Supply and its potential consequences on price levels, production and employment.
- Demonstrate your understanding of how the Reserve Bank of India can apply monetary policy tools to tackle a scenario of Deficient Demand in the economy? Identify and discuss four specific measures that the Reserve Bank of India can employ to effectively correct the situation.
- Explore four main functions of the Reserve Bank of India and how each of these functions contributes to the overall growth of the Indian economy.
- Assuming that there exists a situation of excess demand in an economy leading to an inflationary gap.
a) What is the impact of excess demand in the economy
b) Explain any two monetary measures that can help to control this situation.
For more 4 Marks Important Questions, check the link below
| CBSE Class 12 Economics 4 Mark Important Questions for Board Exam 2024 |
Important 6 Mark Questions for Class 12 Economics Board Exam 2024
1. (a) In what situation will the Real Gross Domestic Product be greater than the Nominal Gross Domestic Product?
(b) If the Nominal Gross Domestic Product is ₹2200 crores, and the price index (base = 100) is 110. Calculate the Real Gross Domestic Product.
2. Answer the following questions.
(a) "National highway is a private good because it is funded by taxes." Defend or refute the given statement with valid arguments.
(b) How does the government budget ensure economic equality in an economy?
3. (a) In the 2022-23 budget in India, a lot of importance has been given to reforming the education system and all-inclusive welfare. Analyse the value of such an allocation.
(b)State which category of receipts or expenditures the following are categorised as:
i) custom duty
ii) government acquisition of land
iii) Sale of PSUs
4. (a). In the estimation of a country's National Income, are the following items included? Provide reasons for each.
(i) Rent-free house to an employee by an employer
(ii) Purchases by foreign tourists
(iii) Purchase of a truck to carry goods by a production unit
(b)Elaborate on the concepts of Nominal Gross National Product and Real Gross National Product with examples to illustrate the significance of these measures in economic decision-making.
5. (a)Explain the Government's Budget and its various sources of revenue. Present three actual instances of non-tax revenue earnings that a government could accumulate during its fiscal year.
(b)Highlight three main objectives that guide the government to frame their policies and decisions. Explain these three objectives providing examples
6. (a)Explain the economic stability objective of Government Budget.
(b) Under the Ayushmaan Bharat Scheme, the Government provides free medicines to the economically backward section of the society'. Identify and discuss the nature of the government expenditure indicated in the given statement.
7 (a) Giving valid reasons, explain how the following would be treated while estimating domestic income?
(i) Payment made by American tourist for goods purchased in India.
(ii) Tomatoes grown by Ms. Puja in her kitchen garden.
(b)"Machine purchased by a firm is always a capital good." Do you agree with the given statement? Give valid reasons for your answer.
For more 6 Marks Important Questions, check the link below
| CBSE Class 12 Economics 6 Mark Important Questions for Board Exam 2024 |
Other Important Resources for Preparation of CBSE Class 12 Economics Board Exam 2024
CBSE Class 12 Economics Syllabus 2024
Comments
All Comments (1)
Join the conversation